FSB prepares for push to clearing

Not so clear

For derivatives markets such as South Africa – relatively small, relatively self-contained – there are three choices in the cleared world. They can build their own central counterparties (CCPs), invite foreign clearing houses to cater to their domestic derivatives users, or bluntly ignore developments beyond their shores and allow over-the-counter transactions to remain bilateral.

Bert Chanetsa, deputy executive of South Africa’s Financial Services Board (FSB) – which is taking the lead